C. Northcote Parkinson promulgated laws applicable to corporate operations in the 1950s, the most famous of which is Parkinson’s Law No. 1: “Work expands to fill the time available for its completion.”

Less famous but equally important is Parkinson’s Law No. 3: “Unless the sum is beneath their notice, the amount of time board members spend on an issue is inversely proportional to the sum involved.” Or Parkinson’s Law No. 4: “Committees tend to increase in size until they collapse.”